Jefferies Cuts Numbers On Finisar (FNSR) On In-Line Q3, But Guidance Whiff

March 1, 2012 11:24 AM EST
Get Alerts FNSR Hot Sheet
Price: $29.03 -1.43%

Rating Summary:
    15 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
Trade FNSR Now!
Join SI Premium – FREE
Jefferies cuts estimates and its price target on Finisar (NASDAQ: FNSR) from $22 to $18 following roughly in-line Q3 but gave Q4 guidance that was below Street expectations.

"We believe it’s likely that the company will beat its guidance for Q4 given our insights into N. American spending trends. However, we continue to have concerns that Cisco’s acquisition of Lightwire will create an overhang on Finisar shares until there’s more certainty around the potential impact."

The firm cut Q4 EPS estimates from $0.25 to $0.22, FY12 from $0.91 to $0.88 and FY13 from $1.45 to $1.25.

For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.

Shares of Finisar closed at $20.29 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment